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Dorian safeguards itself for hostile takeovers

On the heels of the battle for Norwegian gas carrier Aurora LPG, Dorian LPG has now adopted new shareholders' rights in an effort to protect the company from a hostile takeover, says CEO John Hadjipateras.

Photo: Dorian LPG

The gas industry recently witnessed two of the most major players fight it out to enter the Norwegian gas carrier Aurora LPG. A fight, where the largest of the two, BW LPG, was successful in acquiring 15 percent of the shares in Aurora, while Avance Gas had to admit defeat.

The Aurora LPG takeover battle does not seem to have gone unnoticed by one of the other majors in VLGC, namely Dorian LPG. In order to avoid a hostile corporate takeover, Dorian LPG has initiated a "poison pill defense", which will make it substantially more expensive to take over the company without consent from the board.

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